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<span><u>FARM MARKET NEWS - ONTARIO COMMODITY REPORT FOR Wed, May 27<br>
</u></span></div>
<div style="font-family: "Courier New", monospace; font-size: 10pt; color: rgb(0, 0, 0);">
<div><u>(All Bases in CAD)<br>
</u></div>
<div><u>Exchange rate was 1.3782 up 0.0015<br>
</u></div>
<div><u>Chicago corn closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> JUL20 HI 3.21 3/4 DEC20 HI 3.35 3/4<br>
</u></div>
<div><u> LOW 3.19 1/4 LOW 3.33 3/4<br>
</u></div>
<div><u> CLOSE3.20 1/2 Up 1 1/2 CLOSE 3.34 1/2 Up 1/2<br>
</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP BASIS NEW CROP BASIS<br>
</u></div>
<div><u>Location Spot 1mt 2mt 3mt U.S. $/bu $/mt Cntrct U.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +JUL20+SEP20+SEP20<br>
</u></div>
<div><u>CK Low 1.25 4.46 175.39 0.90 4.25 167.12<br>
</u></div>
<div><u>CK High 1.25 4.46 175.39 0.95 4.30 169.09<br>
</u></div>
<div><u>CK Avg 1.25 0.03 4.46 175.39 0.91 -0.26 4.25 167.45<br>
</u></div>
<div><u>Essex Cty 1.25 4.46 175.39 0.90 4.25 167.12<br>
</u></div>
<div><u>Mdsx Low 1.25 4.46 175.39 0.90 4.25 167.12<br>
</u></div>
<div><u>Mdsx High 1.25 4.46 175.39 0.95 4.30 169.09<br>
</u></div>
<div><u>Mdsx Avg 1.25 0.03 4.46 175.39 0.93 -0.25 4.27 168.10<br>
</u></div>
<div><u>Hensall 1.30 4.51 177.35 0.97 4.31 169.74<br>
</u></div>
<div><u>Bruce 1.30 4.51 177.35 0.95 4.30 169.09<br>
</u></div>
<div><u>Putnam 1.25 4.46 175.39 0.90 4.25 167.12<br>
</u></div>
<div><u>Burford 1.25 4.46 175.39 0.90 4.25 167.12<br>
</u></div>
<div><u>Port Perry 1.35 4.56 179.32 1.05 4.40 173.02<br>
</u></div>
<div><u>Norfolk 1.25 4.46 175.39 0.90 4.25 167.12<br>
</u></div>
<div><u>Palmerston 1.25 4.46 175.39 0.95 4.30 169.09<br>
</u></div>
<div><u>Varna 1.30 4.51 177.35 0.95 4.30 169.09<br>
</u></div>
<div><u>Trenton 1.35 4.56 179.32 1.10 4.45 174.99<br>
</u></div>
<div><u>Winchester 1.40 4.61 181.29 1.45 4.80 188.77<br>
</u></div>
<div><u>North Gower 1.40 4.61 181.29 1.40 4.75 186.80<br>
</u></div>
<div><u>Vankleek Hil 1.01 4.22 165.94 1.06 4.41 173.42<br>
</u></div>
<div><u>Huron FOB 1.43 4.64 182.47 0.95 4.30 169.09<br>
</u></div>
<div><u>Kent FOB 1.30 4.51 177.35 1.00 4.35 171.06<br>
</u></div>
<div><u>Lamb FOB N/A 0.95 4.30 169.09<br>
</u></div>
<div><u>Mdsx FOB 1.30N/A N/A N/A 4.51 177.35 0.95 4.30 169.09<br>
</u></div>
<div><u>FOB SW Que 2.19 5.40 212.39N/A<br>
</u></div>
<div><u>Track 1.52 4.73 186.02N/A<br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Chat-Eth N/A N/A N/A 1.45 N/A<br>
</u></div>
<div><u>Jhnstwn-Eth N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>Aylmer-Eth N/A N/A 1.50 1.60 1.20 4.55 178.93<br>
</u></div>
<div><u>Sarn-Eth N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>London-Ing N/A N/A N/A N/A 1.25 4.60 180.90<br>
</u></div>
<div><u>Pt.Colb-Ing N/A N/A N/A N/A N/A<br>
</u></div>
<div><u>Cardnl-Ing N/A N/A 1.95 2.00 1.55 4.90 192.71<br>
</u></div>
<div><u>W O Feed 1.68 4.88 192.24<br>
</u></div>
<div><u><br>
</u></div>
<div><u>US Rep 1.76 4.97 195.46<br>
</u></div>
<div><u>Toledo El. -0.11 3.09 121.83 -0.41 2.93 115.41<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Pt. Colb 1.80 5.01 197.04 1.35 4.70 184.83<br>
</u></div>
<div><u>Prescott 1.86 5.07 199.40N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>HI SD CRN 0.95 4.29 1/2<br>
</u></div>
<div><u>*Wet Bid<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3782 up 0.0015<br>
</u></div>
<div><u>Chicago soybeans closed slightly higher.<br>
</u></div>
<div><u><br>
</u></div>
<div><u> JUL20 HI 8.51 1/4 NOV20 HI 8.59<br>
</u></div>
<div><u> LOW 8.43 1/2 LOW 8.51 3/4<br>
</u></div>
<div><u> CLOSE8.48 1/2 Up 1 1/2 CLOSE 8.55 1/2 Up 1/2<br>
</u></div>
<div><u><br>
</u></div>
<div><u> OLD CROP NEW CROP<br>
</u></div>
<div><u>Location Basis 1mt 2mt 3mt U.S. $/bu $/mt BasisU.S. $/bu $/mt<br>
</u></div>
<div><u>ELEVATORS +JUL2+JUL2+SEP20<br>
</u></div>
<div><u>CK Low 2.75 11.24 412.822.55 11.11 408.04<br>
</u></div>
<div><u>CK High 2.77 11.26 413.552.60 11.16 409.88<br>
</u></div>
<div><u>CK Average 2.75 -0.3311.24 412.942.59 -0.4711.14 409.45<br>
</u></div>
<div><u>Essex Cty 2.75 11.24 412.822.55 11.11 408.04<br>
</u></div>
<div><u>Mdsx Low 2.75 11.24 412.822.56 11.12 408.41<br>
</u></div>
<div><u>Mdsx High 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Mdsx Average 2.75 -0.3311.24 412.822.58 -0.4711.14 409.14<br>
</u></div>
<div><u>Hensall 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Bruce 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Putnam 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Burford 2.82 11.31 415.392.63 11.19 410.98<br>
</u></div>
<div><u>Port Perry 2.77 11.26 413.552.58 11.14 409.14<br>
</u></div>
<div><u>Norfolk 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Palmerston 2.79 11.28 414.292.65 11.21 411.71<br>
</u></div>
<div><u>Varna 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Trenton 2.75 11.24 412.822.60 11.16 409.88<br>
</u></div>
<div><u>Winchester 2.75 11.24 412.822.55 11.11 408.04<br>
</u></div>
<div><u>North Gower 2.80 11.29 414.652.65 11.21 411.71<br>
</u></div>
<div><u>Vankleek Hill N/A 2.85 11.41 419.06<br>
</u></div>
<div><u>Huron FOB 2.90 11.39 418.332.70 11.26 413.55<br>
</u></div>
<div><u>Kent FOB 2.95 11.44 420.162.60 11.16 409.88<br>
</u></div>
<div><u>Lambton FOB 3.15 11.64 427.512.75 11.31 415.39<br>
</u></div>
<div><u>Middlesex FOB2.94 2.94 N/A N/A 11.43 419.802.69 11.25 413.18<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Windsor 3.27 11.76 431.922.89 11.45 420.53<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TRANSFER<br>
</u></div>
<div><u>Hamilton 3.30 11.79 433.023.05 11.61 426.41<br>
</u></div>
<div><u>Prescott N/A 3.14 11.70 429.72<br>
</u></div>
<div><u>Port Colborne3.35 11.84 434.863.03 11.59 425.68<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. -0.14 8.35 306.71-0.41 8.14 299.15<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Exchange rate was 1.3782 up 0.0015<br>
</u></div>
<div><u>Chicago wheat closed slightly lower.<br>
</u></div>
<div><u>JUL20 HI 5.11 3/4 SEP20 HI 5.14 3/4<br>
</u></div>
<div><u> LOW 5.01 1/4 LOW 5.04 1/2<br>
</u></div>
<div><u> CLOSE 5.04 1/2 Down 2 1/4 CLOSE 5.08 Down 2 1/2<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Minni wheat closed slightly lower.<br>
</u></div>
<div><u>JUL20 HI 5.20 1/2 SEP20 HI 5.31 1/4<br>
</u></div>
<div><u> LOW 5.12 LOW 5.23 1/2<br>
</u></div>
<div><u> CLOSE 5.13 1/4 Down 4 1/2 CLOSE 5.24 1/2 Down 4 1/4<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Cash Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 19 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 2.05 2.25 2.05 1.32<br>
</u></div>
<div><u>CAD $/bu 7.09 7.30 7.09 6.45<br>
</u></div>
<div><u>CAD $/tonne 260.54 268.13 260.54 237.12<br>
</u></div>
<div><u><br>
</u></div>
<div><u><br>
</u></div>
<div><u>Direct MarkHarvest 2019 Harvest 2020<br>
</u></div>
<div><u> DELIVERED BASIS DELIVERED BASIS<br>
</u></div>
<div><u>Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M)<br>
</u></div>
<div><u>ELEVATORS<br>
</u></div>
<div><u>Brgssvll N/A N/A N/A N/A N/A N/A 1.26 N/A<br>
</u></div>
<div><u>London 1.92 2.20 1.71 N/A 1.47 1.67 1.19 N/A<br>
</u></div>
<div><u>Hensall 1.65 N/A 1.65 N/A 1.41 N/A 1.26 N/A<br>
</u></div>
<div><u>Trenton N/A N/A N/A N/A N/A N/A 1.41 N/A<br>
</u></div>
<div><u>Bruce 1.55 2.05 1.65 1.70 1.31 1.66 1.26 1.25<br>
</u></div>
<div><u>Essex N/A N/A 1.70 N/A N/A N/A 1.21 N/A<br>
</u></div>
<div><u>Norwich 1.65 N/A 1.65 N/A 1.41 N/A 1.26 N/A<br>
</u></div>
<div><u>Port Hope N/A N/A 1.75 N/A N/A N/A 1.41 N/A<br>
</u></div>
<div><u>Kent Bridge 1.65 N/A 1.65 N/A 1.41 N/A 1.26 N/A<br>
</u></div>
<div><u>Chatham N/A N/A N/A N/A N/A N/A 1.26 N/A<br>
</u></div>
<div><u>Brigden N/A N/A N/A N/A N/A N/A 1.26 N/A<br>
</u></div>
<div><u>Palmerston N/A 2.04 1.63 1.73 N/A 1.71 1.28 1.23<br>
</u></div>
<div><u>Varna 1.85 2.05 1.65 N/A 1.36 1.66 1.26 N/A<br>
</u></div>
<div><u>Mitchell 1.65 1.80 1.65 N/A 1.41 1.61 1.26 N/A<br>
</u></div>
<div><u>Thornton N/A N/A N/A 1.63 N/A N/A N/A N/A<br>
</u></div>
<div><u>North Gower N/A 2.04 1.85 1.05 N/A 1.80 1.35 1.10<br>
</u></div>
<div><u>W O Feed 2.16<br>
</u></div>
<div><u><br>
</u></div>
<div><u>TERMINAL<br>
</u></div>
<div><u>Port Colbor N/A N/A 2.05 N/A N/A N/A 1.53 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>PROCESSORS<br>
</u></div>
<div><u>Toledo FM N/A N/A 1.91 N/A N/A N/A 1.86 N/A<br>
</u></div>
<div><u><br>
</u></div>
<div><u>Toledo El. 5.05US 6.95CA 5.04US 6.94CA<br>
</u></div>
<div><u><br>
</u></div>
<div><u>GFO Contract Wheat Prices - DEL Terminal<br>
</u></div>
<div><u>Harvest 20 Soft White(C) Hard Red(C) Soft Red(C) Red Spring(M)<br>
</u></div>
<div><u>Basis 1.58 1.92 1.58 1.16<br>
</u></div>
<div><u>CAD $/bu 6.66 7.00 6.66 6.40<br>
</u></div>
<div><u>CAD $/tonne 244.54 257.19 244.54 235.17<br>
</u></div>
<div><u><br>
</u></div>
<div><u>(C)-Basis over the Chicago Board of Trade futures<br>
</u></div>
<div><u>(M)-Basis over the Minneapolis Grain Exchange<br>
</u></div>
<div><u><br>
</u></div>
<div><u>FEED GRAINS<br>
</u></div>
<div><u>FOB Hm Soymeal 485.03<br>
</u></div>
<div><u>DDG's FOB Srn & Aylm 265.00<br>
</u></div>
<div><u><br>
</u></div>
<div>--</div>
<div><br>
</div>
<div>Ontario Grain Market Commentary for May 27, 2020</div>
<div>By Todd Austin,Grain Farmers of Ontario</div>
<div> <br>
</div>
<div>
<div>Wednesday, May 27, 2020<br>
</div>
<div>COMMODITY PERIOD PRICE WEEKLY MOVEMENT<br>
</div>
<div>Corn CBOT July 3.20¨ö ¡è 1 cents<br>
</div>
<div>Soybeans CBOT July 8.48¨ö ¡è 1¨ú cents<br>
</div>
<div>Wheat CBOT July 5.04¨ö ¡é 9¨ù cents<br>
</div>
<div>Wheat Minn. July 5.13¨ù ¡é 7¨ù Cents<br>
</div>
<div>Wheat Kansas July 4.5 ¨ú ¡é 1¨ö Cent<br>
</div>
<div>Oats CBOT July 3.27¨ö ¡è 9¨ö Cents<br>
</div>
<div><br>
</div>
<div>Canadian $ June 0.7256 ¡è 59 Points<br>
</div>
<div><br>
</div>
<div><br>
</div>
<div>CORN: <br>
</div>
<div>U.S. farmers have planted 88% of their expected crop. This was above the five-year average of 82%, but below the trade's estimate of 90% complete. Emergence is estimated to be 64%. Slower planting progress in the Dakotas is feeding speculation that corn
acres may be shy of the 97 million acre estimate.<br>
</div>
<div>In Brazil¡¯s Mato Grosso region, the safrinha corn harvest is underway. Corn acreage in this area of Brazil is expected to be 12.8 million acres, and production is estimated at 32.7 million tonnes.<br>
</div>
<div><br>
</div>
<div>SOYBEANS: <br>
</div>
<div>Soybean planting is 65% complete, above the five-year average of 55% but below the trade estimates of 70%. Emergence is estimated to be 35%.<br>
</div>
<div>Argentina soybean harvest is 93% complete, ahead of the five-year average of 81%. Estimates of yield now project the crop to be 43.6 bushels per acre and total production to be 49.5 million tonnes.<br>
</div>
<div><br>
</div>
<div>WHEAT:<br>
</div>
<div>Ukraine¡¯s winter wheat harvest is anticipated to come in at 23 million tonnes. This past year Ukraine harvested 28 million tonnes. This lower production level is due to poor weather not only during planting, but throughout the growing season. Many of the
winter wheat growing areas were hit with drought this year.<br>
</div>
<div>U.S. spring wheat planting is reported to be 81% complete, down 9 percentage points from the five-year average. The USDA had estimated spring wheat at 12.6 million acres. Of this, 11.9 million acres are hard red spring wheat.<br>
</div>
<div><br>
</div>
<div>2020 harvest prices for May 27, 2020, at the market close, are as follows:<br>
</div>
<div><br>
</div>
<div>SWW at $244.54/mt ($6.66bu), HRW at $257.19/mt ($7.00 /bu) + protein, <br>
</div>
<div>HRS at $ 235.17/mt ($6.40/bu) + protein, and SRW at $244.54 /mt ($6.66/bu).<br>
</div>
<div><br>
</div>
<div>We offer on farm bids for 2020 wheat and 2021 harvest prices as well, please call
<br>
</div>
<div>1-800-265-0550 for more information.<br>
</div>
<div><br>
</div>
<div>---</div>
<div><br>
</div>
<div>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Blair Andrews</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Editor, AgriLink and Farm Market News
</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">University of Guelph, Ridgetown Campus</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New""><o:p> </o:p></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Email:fmnc@uoguelph.ca<span style="mso-spacerun:yes">
</span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif">
<span style="font-size:10.0pt;font-family:"Courier New"">Tel. 519-674-1500 x 63577
</span></p>
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